Multi-Level Commercial Kitchen
456 Elm Avenue, Long Beach, CA 90802
For Sale
$12,190,000
A culinary workspace combines private and shared kitchens with dining, prep, cold storage, and staff areas.
Property Size25,129 SF
Lot Size0.17 Acres
Price / SF$485.10
Days on Market49
Property Features for 456 Elm Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Restaurant
Commercial Hood
Liquor License
Building Details
Building Size
Buildings
Listing Agency:
Coldwell Banker Commercial BLAIR
Listed By:
Sheva Hosseinzadeh · License CA #01922147
(562) 400-5949
Source:
Cbcworldwide
Added: Sep 26
Changed: Nov 6
Last Checked: Nov 12 at 4:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial BLAIR
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Investment Insights
Based on property information with market context.
At 456 Elm Avenue, this 25,129-square-foot facility occupies a 7,506-square-foot parcel and is configured for a range of culinary operations. The ground floor has a dining hall, chef’s kitchen with a private dining area, and public restrooms. Eight private commercial kitchens, each with a hood system, are located on the second floor. The third floor contains five shared kitchens, three walk-in coolers, one walk-in freezer, a washing station, and eight non-hooded prep kitchens. The basement includes a receiving area, two more prep kitchens, and an employee locker and break room.
The property serves food entrepreneurs through private and communal kitchen options, and the shared kitchens have hourly renters. The prep areas also accommodate non-food business operators. A Master Conditional Use Permit has been approved for ten (10) transferable Type 41 ABC Licenses; approval of a Type 47 ABC License for on-site liquor consumption is in process.
The property serves food entrepreneurs through private and communal kitchen options, and the shared kitchens have hourly renters. The prep areas also accommodate non-food business operators. A Master Conditional Use Permit has been approved for ten (10) transferable Type 41 ABC Licenses; approval of a Type 47 ABC License for on-site liquor consumption is in process.
Key Highlights
- 25,129 square feet of improvements on a 7,506‑square‑foot parcel
- Eight private commercial kitchens with hood systems, plus five shared kitchens
- Eight non‑hooded prep kitchens on the third floor and two additional prep kitchens in the basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$472,676
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,453,520
$9.5M
Cap Rate 7%
$6,752,514
$6.8M
Cap Rate 9%
$5,251,956
$5.3M
Market Conditions
NOI Build-Up for 25,129 SF
Gross rent
$663.4K $26.40/SF
− Vacancy
−$33.2K −$1.32/SF
EGI
$630.2K $25.08/SF
− OpEx
−$157.6K −$6.27/SF
NOI
$472.7K $18.81/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,453,520
Cap Rate 7%
$6,752,514
Cap Rate 9%
$5,251,956
Alternative Uses
Best Use
Specialty Retail
$6.75M
$5.91M – $7.88M
NOI $472,676 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$4.33M
$3.79M – $5.06M
NOI $303,437 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$13.45M
$11.77M – $15.70M
NOI $941,778 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
340k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 30%
Shops & Services 15%
Hotels & Casinos 6%
Superior Grocers
Groceries
38,748 visits/mo
0.5 miles
El Super
Groceries
38,294 visits/mo
0.1 miles
VONS
Groceries
24,737 visits/mo
0.4 miles
McDonald's
Dining
20,241 visits/mo
0.4 miles
Starbucks
Dining
19,105 visits/mo
0.2 miles
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
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Market
Average Price Trend$/SF for Commercial kitchens in Los Angeles County, CA
Properties on Market for Commercial kitchens in Los Angeles County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Commercial kitchen - A culinary workspace combines private and shared kitchens with dining, prep, cold storage, and staff areas.
Where is this commercial kitchen located?
The property is located at 456 Elm Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $12,190,000.
What are key features of this property?
This property features: 25,129 square feet of improvements on a 7,506‑square‑foot parcel; Eight private commercial kitchens with hood systems, plus five shared kitchens; Eight non‑hooded prep kitchens on the third floor and two additional prep kitchens in the basement
